Lust for lifestyle drives home price growth in Noosa, Mackay

first_img MACKAY & SURROUNDS GROWTH SUBURBS FOR HOUSES Noosaville 9% Peter and Kim Lloyd with children, Summer, 8, and Cooper, 11, who are selling their home at a time when Noosa house prices are hitting record highs. Photo: Lachie Millard.SERIOUS home buyers in search of a sea change saw Queensland’s coastal regions outperform Brisbane’s housing market over the past year, new research reveal. Noosa has cemented its status as one of the nation’s most sought-after property markets, with its median house price hitting a new record of $800,000 — the highest of any house market in the state, according to the latest quarterly figures from the Real Estate Institute of Queensland.Its apartment market was also the strongest in Queensland in the 12 months to March 31, with the median unit price climbing 8.7 per cent to $625,000. Noosa Heads, overlooking Noosa Sound and the Noosa Spit to Noosa River.Further north, Mackay house prices recorded the strongest growth in the state, the value of vacant land in Townsville jumped a whopping 27 per cent and unit prices made double digit gains. These coastal regions are now bracing for an influx of interstate visitors post-July, with the reopening of the Queensland border set to welcome a rush of southerners in from the cold.Buyers’ agents are also reporting a steady surge in appetite for regional property from young families, relocating workers and retirees looking to optimise their superannuation savings.“For those who seek a sea change or tree change lifestyle, the appeal of some of our nation’s regions is enough to tempt many to opt out of city life and pursue a welcome change,” Real Estate Buyers Agents Association president Cate Bakos said. “For investors who have witnessed some particularly strong regional city capital growth rates, the added bonus of typically stronger rental yields has presented an attractive option for those who favour a more balanced portfolio.” REIQ CEO Antonia Mercorella.REIQ CEO Antonia Mercorella said the Sunshine Coast property market had proven its resilience — continuing to remain one of the prime spots in Australia for investment. “With a local economy that’s remained relatively buoyant, backed by strong population and job growth, along with ample investment in large infrastructure projects, the Sunshine Coast housing market has remained on a steady growth trajectory over the first quarter of 2020,” Ms Mercorella said. “But it’s Noosa’s house market that has clearly seen the biggest gains in the greater region when you consider ‘ushered in a record median price of $800,000 on the back of five-year growth of 44.1 per cent — making it the most expensive housing market in Queensland.” Earlier this month, a Sunshine Beach mansion formerly owned by tennis champ Pat Rafter sold for an eyewatering $17 million. The oceanfront home at 46 Seaview Terrace was most recently owned by Betty’s Burgers founder David Hales, who have relocated to another property in Noosa Sound. Suburb Annual price growth (Source: REIQ) GOLD COAST GROWTH SUBURBS FOR HOUSES In March, a home on the same street was snapped up by Karl and Jasmine Stefanovic for $3.6 million. This house at 46 Seaview Tce, Sunshine Beach, has sold for $17m.And while the exclusive seaside retreat has become a haven for wealthy owner-occupiers, it also remains attractive to investors, with rents continuing to rise.The median weekly rent for a two-bedroom unit in Noosa rose 4.8 per cent in the year to March 31 to $480 and increased 4.2 per cent to $500 for a three-bedroom house.While not quite as impressive, the Gold Coast’s annual median house price rose 1.8 per cent for the year to March 2020 to $636,000. But some suburbs recorded double digit price growth, such as Cooloongatta, which was a standout at 27.2 per cent house price growth. Noosa’s median house price has hit a record $800,000, according to new figures. Photo: Lisa Maree Williams/Getty Images.REIQ Gold Coast zone chair Andrew Henderson said buyer activity was reasonably strong considering listings were low.“They’ve got little choice so they funnel into what’s available, and sellers are looking toward listing in those spring months to avoid the stigma of COVID-19,” Mr Henderson said. “Also in springtime, if the borders open up, it’ll help with interstate migration which has, over the last few years, been a huge part of our owner occupier market both in houses and units.”Mr Henderson sees the Gold Coast’s ‘lifestyle credentials’ attracting new residents who have discovered the joys of remote working since the pandemic. “If there is a silver lining, people can be effectively ‘out of the office’ and live somewhere better for their lifestyle. I think that’s where we might see some big gains toward the end of the year,” he said. An aerial view of the Surfers Paradise skyline on a clear day.The Mackay house market has made a huge comeback since being plagued by soft conditions after the mining boom in the mid-2010s. According to the latest REIQ figures, the median house price in the region — which stretches from secluded islands off the coast through golden sand beaches and into lush sub-tropical rainforests — rose 6.2 per cent in the year to March to $360,000.That’s just shy of its all time record of $387,000, which was achieved five years ago.Industry experts put the resurgence in the market down to a combination of the lowest interest rates on record and a case of ‘FOMO’ among buyers who are aware they missed the bottom of the price cycle and are now making their move. Mackay’s housing market was the strongest in the state in the year to March 31. Photo: Lee Constable.The region’s rental market is also healthy, with vacancies falling even further during the lockdown as FIFO mining workers opted to stay put. Demand for rental properties prior to the pandemic had already pushed up weekly rents and those low rental vacancy rates have, in turn, pushed up sales and kept prices firm. Homes are selling quickly, with the average time on market only 34 days.“If you’re looking for property investment opportunities in Queensland, it certainly pays to look outside of metropolitan areas, where you can still find great parcels of land for sale and high price growth areas with strong rental returns,” Ms Mercorella said.REIQ Mackay zone chair Allison Cunningham said the market had started to reignite again after a pause from the coronavirus pandemic, with more people through open homes and solid offers from buyers for listings. Ms Cunningham said the regional economy had weathered the pandemic well because it was self-sufficient and not reliant on the tourism sector.One of the positive impacts on the market from the pandemic was the removal of so-called “tyre kickers” with almost all inquiries now from genuine purchasers looking to enter the market. Townsville’s housing market continued its steady recovery at the start of the year and is yet to feel any major impact from the coronavirus restrictions. The Strand’s Rockpool opens back up after being closed for maintenance.Unit prices surged 23 per cent over the year to March 31, while the median value of vacant land rose 26.9 per cent to $250,000.“That’s an additional $53,000 in equity, which is usually unheard of,” Ms Mercorella said. “It’s certainly an opportune time to buy your next home or investment property in Townsville.”REIQ Townsville zone chair Ben Kingsberry said when coronavirus hit, most agents were prepared for a complete shutdown of the market and the local economy. “The thing is, that didn’t really happen,” he said. “Sales activity remained at average levels in March and then started to firm in April — far sooner than anyone had predicted.“In fact, sales inquiries had still been coming from interstate buyers during the lockdown because of the region’s affordable property prices, as well as attractive gross rental yields.” The Townsville median house price for the year ending March was $315,000 – one of the most affordable in the state. NOOSA GROWTH SUBURBS FOR HOUSESSuburb Annual price growth Sunshine Beach 22.8%Noosaville 13.6%Black Mountain 13.5%Doonan 9.9%Pomona 7.4%(Source: REIQ)NOOSA GROWTH SUBURBS FOR UNITS/TOWNHOUSESMore from newsParks and wildlife the new lust-haves post coronavirus9 hours agoNoosa’s best beachfront penthouse is about to hit the market9 hours agoSuburb Annual price growth (Source: REIQ) Peregian Beach 3.5%center_img TOWNSVILLE & SURROUNDS GROWTH SUBURBS FOR HOUSES Suburb Annual price growth Sunshine Beach 11.5% Suburb Annual price growth (Source: REIQ) Slade Point 22.1%Moranbah 21.5%Blacks Beach 18.4%South Mackay 18.2%Bucasia 11.4%(Source: REIQ) Noosa Heads 6.3%last_img read more

Arteta provides updates on Chambers, Xhaka

first_img Loading… Arsenal manager, Mikel Arteta, has provided an update on the fitness of Calum Chambers and Granit Xhaka. Arteta is ready to make his mark Neither player is fit to play at present. The Gunners suffered a 2-1 defeat at home against Chelsea, and must now get ready for a New Year’s Day game against Manchester United. But Xhaka and Chambers may be absent for that clash.Advertisement Speaking about Xhaka, Arteta told the club website: “He played at Bournemouth, he played really well, he was very committed, he played a really good game. “After the game he started to feel ill. He had a temperature and he wasn’t feeling good. “The last two days he’s been in bed. That’s why he’s not been selected.” Read Also:Arteta: Why we lost against Chelsea And on Chambers: “The doctors are assessing him. The first feeling he got, it wasn’t very positive.” FacebookTwitterWhatsAppEmail分享 center_img Promoted ContentWho Is The Most Powerful Woman On Earth?5 Of The World’s Most Unique Theme ParksInsane 3D Spraying Skills Turn In Incredible Street ArtThe Very Last Bitcoin Will Be Mined Around 2140. Read More10 Phones That Can Easily Fit In The Smallest PocketBirds Enjoy Living In A Gallery Space Created For Them2020 Tattoo Trends: Here’s What You’ll See This YearEver Thought Of Sleeping Next To Celebs? This Guy Will Show You7 Ways To Understand Your Girlfriend BetterThe Best Cars Of All Time6 Most Breathtaking Bridges In The WorldWho Earns More Than Ronaldo?last_img read more